Comparing Dogecoin and XRP: Analyst Explores Key Trends
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- An analyst highlights XRP’s strong bullish breakout compared to Dogecoin’s weaker momentum, suggesting distinct market dynamics.
- Dogecoin’s short-term growth depends on surpassing key resistance levels, with potential long-term benefits from an ETF launch.
Alan Santana, a crypto analyst noted for his TradingView insights, has shared a detailed comparison between Dogecoin (DOGE) and XRP. Santana talks about Dogecoin’s present trajectory and its future possibilities while stressing the different technical performance of the two assets.
XRP Bullish Breakout vs. Dogecoin Performance
XRP showed a strong bullish breakout in November, indicating a definite break from its bearish phase, Santana observes. Strong optimistic momentum combined with a monthly closing above resistance defined the breakthrough.
By contrast, Dogecoin showed positive activity as well; November was the most recent of three consecutive green months. Santana notes, nevertheless, that the November closing of Dogecoin fell below its resistance level—shown on the chart by a key green line.
Despite a lower high, this month’s price activity began positively, yet it displays fluctuations in bullish strength when compared to XRP.
Santana notes tiredness in the positive momentum of Dogecoin on the weekly scale. Still, he sees long-term development as being really bright. Still, short-term profitability seems to depend on Dogecoin’s capacity to exceed a fundamental Fibonacci level at $0.474523 (0.618).
Should DOGE surpass this level, it would indicate ultra-bullish behavior and open the path for more gains. On the other hand, failing to overcome this resistance could need a period of retracing or consolidation; the 0.5 Fibonacci level at $0.3933 provides instantaneous support.
Meanwhile, as of writing, DOGE is swapped hands at about $0.4136, up 3.65% over the last 7 days. Its market cap surpassing the $60 billion mark demonstrates its increasing hype in the crypto market.
In addition, a report from CNF indicates growing speculation about the possibility of launching a Dogecoin ETF in 2025, thereby enhancing the potential of this memecoin.
According to market analysts, DOGE’s market value would climb dramatically if a Dogecoin ETF grabs 30% of the total net inflow of $30.8 billion now recorded by Bitcoin ETFs.
